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3: (36 marks) In this question you must estimate a time series model for consumer prices in South Africa. You are provided with the following
3: (36 marks) In this question you must estimate a time series model for consumer prices in South Africa. You are provided with the following data: Variable names and description: CPI = Headline consumer inflation, all urban areas (Index) NEER = Nominal effective exchange rate Exchange rates . NB . An increase implies an appreciation OIL = Brent crude oil in South African rand per barrel Dum =1 from 2008M1 to end of sample and zero otherwise. Assumes it captures period of global financial crisis DATASETS: For this question you must use the correct dataset, depending on the first letter of your surname. DATASET 1: Students whose surname start with A-L; DATASET 2: Students whose surname start with M-N; DATASET 3: Students whose surname start with O-Z. Please make sure to download the correct datafile (Excel file), depending on your surname. The Excel files are clearly marked 'DATASET 1', 'DATASET 2' and 'DATASET 3'. You will be panelised for not adhering to thus rule
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